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stronger than expected. it rose in january, current conditions 108 versus the expectations of 107. euro/dollar is about 1% higher on the back of that news. the ifo institute, current conditions, 108. headline index, 104.2 versus 103. ross, what do you make of it? >> well, you can see what's going on with the euro there, 134. let's get more from finland. good to see you, alex. thanks indeed for joining us. the defense here that we're no longer in crisis fighting mode, the question as we look at data in germany, the question is whether we've made a fundamental turn, a fundamental change and whether things are temporary. >> i certainly hope we've made a fundamental turn. if this crisis is 100 steps, i'd say we are about 60 steps down the road. now, really, we have the fundamental institutional things in place. so that has calmed down the markets. what we now need is political stability. i think the italian election is one thing and the second thing we need in europe more than anything else is -- >> yeah. we thought stabilizing the crisis in terms of the bond spreads playing out was hard. g
the european politicians and believing in the euro project, are you? >> well, i was. breaking up, wouldn't be here -- >> you're going to tell me that you're convicted on the aussie/dollar. >> no, i'm not convicted. i'm admitting that i've been wrong. we think aussie is terribly overvalued and that's the problem, frankly. >> good to have you on. plenty more to come from you. the ecb is going to keep its interest rates at a record low today. that's what we expect, anyway. the markets will be listening to the delivery tone of mario draghi's delivery. silvia wadhwa is back at her delivery post. 2013 [ speaking foreign language ]. >> everything is going to stay the same. the ecb hasn't got anything to do right now. they've pretty much said everything on track, probably the best, cheapest intervention they had so far was the program. every month announced again. we stand ready to act, but so far they haven't had to do anything because nobody has asked for an omt program yet. but the market believes that the ecb is there as the backstop. so far, that was very successful. in terms of anything el
. they're about to repay hundreds of millions of dollars in emergency loans sending the euro to a 11-month high. currency investor axle merck says the euro could be the rock star this year. he is here to explain. tracy: this blowup capsule the future of space? you heard it about had here first last week. the head of the company that makes nasa's new experiment will tell us how the thing works. and how it is expandable as to inflatable. ashley: there is your space lab right there. tracy: but it is top of the hour. time for stocks as we do every 15 minutes. nicole petallides on the floor of the exchange. >> all right. good way to kick off the hour. let's just get to the markets. i think we'll save ourselves. let's take a look here at the dow, the nasdaq and the s&p. as we noted we've been sitting here at five-year highs and not too far off all-time highs. look at dow industrials. 13,881. you are. our high of the day was 13,887. these are the highest levels we've seen in five years. of course our all-time high, there it is right on cue, closing high, 14,164 and change. we're not too far
ounce. in the euro, falling to one week low against the u.s. dollar amongst speculation a large investor is selling the greenback. the euro fell to $1.32 in intraday trading. there was speculation he was selling the euro, that expect investor. david: a huge day for apple, which of course is in most peoples portfolipeople's portfor another. in the pits of the cme, and our market panel to talk over apple and all the other news of the day. jerry leavy and david wright, managing director at sierra investment management. tim at the cme. i would say everybody is focused on apple right now. what are expectations in chicago? >> everybody is focused, but i am not so sure it is this quarter. what they will do for the quarter and in march. it will really be key, specifically apple lowers expectations, but the concern is they might not get away with it this time. having said that, why i say this quarter may not be so big. they were originally looking for $11.77 or sure. they have already raised estimates, the report the other day now expectations are a little bit for this quarter, so watch the march
euros in debt. the treasury's funding this year is being outlined in madrid as we speak. as we get details on that, we'll absolutely bring them to you. we're talking about nations showing up and saying, give us the help. but spain hasn't even had to go that far. >> the spanish base can get some of on their money if they declare official emergencies. what they're trying to do is to avoid saying we really need the help, we're in trouble. all these countries, as the situation continues, it's clear they won't appear to be the only ones to call the situation off. and the spanish are aware of the fact that everyone else is aware of. we can deal with these countries. spain itself is a significantly different issue. this is a european problem, a potentially fatal one, but one that the spanish isn't really up to. >> can we still get beyond the german elections before there is any activation of the omc? >> we're talking about -- >> or can we go everywhere? >> the issue with the omt, if you're a central banker's performance, it's all these acronyms and different names. it's worth bearing in m
markets in europe. perhaps we're seeing a special case of that in europe. >> do you expect the euro to remain weak for the rest of the year? >> i expect the eurozone crisis to remain weak. people will look carefully at special situations across europe. >> and best performer of 2013? >> it's impossible to tell. let's say the whole of the market. >> very diplomatic answer there. david simple sop, thank you very much for coming by. some hopeful signs there. straight ahead on the program, talking of hopeful signs, our next guest is at u.s. oil production not seen since the 50s. what does it mean? we'll explore that when we come back. . >>> welcome back to "worldwide exchange." these are your headlines. the bank of japan steps up its easing agenda under heavy government pressure, doubling its inflation target and promising open ended qe starting next year. >>> president obama lays out a vision for his second term in his innagul address. >>> and this is the face of the new mr. euro. earlier, we had a nine to one ratio of decliner toes advancers.inaugural. earlier, we had a nine to one rat
higher on the bund yields. sannish yields back over the 5% mark. on the currency markets, euro/dollar is at 1.3361. dollar/yen pulling away from its nine-month highs at 88.70th at the moment, as well. that's where we stand in europe. sixuan has more for us from singapore in the asian session. >> sure. thank you, ross. asian markets were a bit of a mixed bag. the shanghai composite gained .6% after yesterday's 3% job. since then, numbers were boosted by china's top security official who said beijing could lift the quota for investors to invest in the mainland markets by as much as nine times. environmental stocks surged. aerospace stock took off on an upbeat industry outlook. the hang seng finished marginally in the red. oil majors and telcos were the market laggers. persisting weakness in the yen boosted exporters. meanwhile, in technology shares wait on south korea kospi ending lower with 1.2%. in australia, the asx 200 ended just a touch below the line. miners were weaker. more on that from our guest later in the show. back to you, ross. >> thanks for that, swish won. catch y
. cheryl: one of the things we look on a daily basis during the market hours is what the euro is doing versus the dollar. always surprised me that the euro never went below like a $1.22 or so against the dollar. now you have the pound. i know you don't like the pound. so i'm curious kind of how you're playing that over in europe right now. >> it's been very interesting. just a year ago, everybody thought that the euro was going dramatically lower, sub 120, 115. i think the major aspect to that is what was it in relation to? we were talking about it in relation to the dollar, and the fed kept on printing money. and the ecb in contrast really has not printed money. they are not injecting new funds into this, whereas what i think is going on with sterling, you know, they are going to probably be the brink of triple dip recession come this friday in the fourth quarter gdp figures. their economy is not doing very well. they will probably have to stimulate that economy going forward. and probably talk about further asset purchases out of them over the next couple of months. cheryl: i have pl
the dollar. concern about the strength of the euro overall could be a threat. undercurrent to the u.s., which looks like to be a negative one. >> the big macro, everything out of japan, not so great. but the united states banking story, i think, is as you mentioned, carl, is it a real u.s. economy, what is the read on it. people are doing better. and this is a section that was terrifically performing in the s&p last year. and you could argue, wait a second, it's run ahead. but it's not selling off today. i thought people thought it would sell off. we're not getting that kind of judgment. >> a lot of up moves on the back of goldman sachs earnings. take a look at the financials. [ bell ringing ] >> taking a look at the open here. no surprise. oh, look, apple is higher by 1.9% in today's session. helping the nasdaq in an up trend. cutting apple to set to perform. a lot of the reasons we heard before, but apple will have bottomed, either yesterday, or today. calling the bottom in shares of apple. remember, on the way up, in september, they're worried about the impending pop on apple. making the m
equities at a five-year high, the euro rallying so prices being lifted by this different influences. melissa: thanks for coming on. we have another truth even if it is not what you want to hear. he made it sound good even though it is bad news. lori: anybody can understand behind the price target. that is a given. it makes it a little bit easier to digest. melissa: it still does not ease how much you're paying at the pump. facebook fourth-quarter peak district of the downgrades roll in. if the company's strategy working? lori: and the drugmakers, the big pharma names. stocks getting beaten down. and competition from generic. but there is still reason to be optimistic. next. . ... melissa: time for stocks now as we do every 15 minutes. let's head to the floor of the new york stock exchange and our own nicole petallides. what have you got. >> i'm looking at a market here that has been somewhat mixed. nasdaq is managing to squeeze out gains the dow dropped below 13,900. some names names weighing on the dow, united health care, bank of america. market breadth actually as i look at it, a
think germany has done what was necessary to al w allow -- to make it clear that the euro is here to stay, and that's been a tremendous relief for the markets. so calm has returned. the european banking system, the interbank market, has revived so there's a general sense of let's say almost euphoria that the crisis is over. i think that is somewhat premature. because the fundamental internal inconsistencies in the dis-tim have not been addressed, and actually, therefore, you face political dangers. the euro is transforming the european union into something very different from the original conception which was a voluntary association of equal states, and instead of that, the financial created a two-class system where the euro, the creditors and debtors and the creditors are in charge. the political situation i think is going to get worse. i think the next year, next two years perhaps, are going to be very cuffy if the european union survives forever. i don't think europe can live politically with are a situation where there's are a center, namely germany, and countries like italy a
, disappointing industrial production numbers in spain and the uk. but the euro is at a nine-month high this morning. we begin with the s&p, a five-year high. a lot riding on bank earnings. the report's not perfect. american express joining the list of financials that are cutting jobs. >>> best buy's troubles continue. they're not the only retailer under pressure this morning. jcpenney capping a bad week. >>> boeing under official view as a probe is taken on the plane. a cracked inshield and oil leak. >>> remember a cheaper iphone? a top apple executive said forget it. the company continues to focus on china. >>> we'll kick off with wells fargo, kicking off q4 results. the lending business came in a little bit lower than many analysts expecting. the numbers coming out after american express announced plans to cut 5,400 jobs and the s&p closed at fresh five-year highs. jim, it's been said, wfc, probably the most important report of the week. what kind of grade do we give it? >> the whisper was they weren't going to do this anyway. i don't know anyone would think they would -- people were
, the euro, we should note, is hitting 11-month highs against the u.s. dollar. marginal changes on a percentage basis. a road map this morning starts off with apple. even more doubts about the demand for the iphone 5 sending shares below. >> did you see your paycheck on friday? the payroll tax hike obviously kicking in for many americans. felt like a pay cut. will this be a temporary shock or a headwind as stocks hover at five-year highs. >> ubs achoirs tnt after a commission throws up road blocks. >>> to the top story. in the pre-market, we've seen apple shares fall below $500 for the first time in 11 months. the tech giant has cut its orders for iphone 5 components because of weaker than expected demands. screen orders for january to march quarter have fallen about half. the company had planned to order. apple said to cut orders for components other than screens. now, jim, we've had sort of this concern about demand for the iphone 5. i think last week when deutsche bank came out with the note from the japanese team, specifically citing this very issue, that's when the concerns
about? >> yeah. it was guilts. booms also going. the dollar, $1.33 verse you the euro and 88 on the yen. finally, gold was up significantly yesterday. it's falling back a little today, down about four points. >>> now time for the global markets report. ross westgate standing by in london. mr. westgate, how are you this morning? >> hey. we're good. thanks very much. as you just saw joe point out, softer here. we have bounced off the session low a short while ago. and the german economics ministry talking about the forecasts for germany, as well. just helping us bounce off that primarily, saying, yes, we've had a weak fourth quarter. will be weak at the beginning of the year. they're expecting a much stronger rebound toward the end of 2013. so the footse 100 was down .5, currently down .3. down .3 for the xetera dax, down .1 as is the french market, ibex down .3%. the euro/dollar, we had an interview with ewald nowotny, the austrian central bank governor. member of the ecb governing council, as well. you see the spike -- we had the session chart, what i was looking for. you would have see
coming in stronger in the real star here. the euro topping 135 for the first time since april 2010. and strengthening even more after the gdp release. overnight in iasia, the nikkei p from 2010. the road map starts with the markets. today may be the day some milestones are hit. we're just about 2% away from dow 14,000. a level we have not traded above since october 17th, 2007. the s&p 500 less than 4% below its october '07 record high. can the bulls overcome the news of the surprise contraction in gdp. >> anticipation building, at least certainly here for research in motion. that being the blackberry 10, will it be enough to sustain the run. we'll take a look. >> amazon shares rocketing higher this morning. investors looking past the revenue and weak guidance, focusing instead on the gains in operating in gross margins. shares are set to open at record highs. >> look at chesapeakchesapeake,d of directors announcing the founder retiring in april. >> we do begin with a stunning gdp report. the economy contracted to 0.1% in the fourth quarter. first decline since 2009. this as we rema
europe, having exposure to the currency, i have exposure to the euro, for a reason, is that i want -- i don't like the fact that we have twice the deficit that europe has. >> right. >> you hear a lot of bad press about europe but europe has a deficit and i want to be exposed to the euro. mostly because i think that the policies of the federal reserve is identical to those of european central bank and euro has been doing very well. and i think, i smell, everybody is bearish on something. but the story doesn't match the numbers. >> bob pisani, good to see you again. in the 2008 crash, is risk in your opinion still underpriced. and if it is, how do you explain to people to protect themselves? >> unless people have been burned, you can't convince them to get protected. and tail risks have traditionally been cheap depending on which tail. and what people fail to understand is that owning tail protection allows me to take risk elsewhere. it is not like what i spend on the tail is the overall package. it is very favorable when you have equities more attractive than bonds and other things. you
are moving a bit lower today. forex, the euro/dollar is one to watch, up 0.1% today. 1.3330. people are talking about how the ltr payment amounts to tightening. the question then becomes for some of the weaker economies whether it's too strong. dollar/yen moving up today. the yen is weakening by about 0.1%. fitch is saying british banks could need more capital. this has certainly been a theme. something, in fact, out in davos. ross, maria and everyone has been asking banks do they play to raise more capital? ross, what do they have to say about that? >> well, look, there's a lot of folks. what was interesting is when we spoke to the barclay's ceo mr. jenkins this morning said the whole industry when they were growing revenues didn't have to worry too much about costs. now they have to focus on the cost side of the business, which we know they're going to have a transformal plan and that's what they're going to be doing, as well. . capital requirements, how much capital is right when you're still going through periods of contracting growth because, obviously, the higher capital you h
are sitting at. the dollar had broken through. you have seen the euro at 13 month highs. with this environment, you are seeing gold up $20. this is the market taking a breather. it does not surprise people on wall street. let's take a look at chesapeake energy. we know that the ceo will be stepping down on april 1. there it is. up 5.5%. what is the potential going forward? it is what you should continue to follow. back to you before thank you, nicole. contracted for the first time in years. peter, good to see you. the ten year treasury yield is about 10%. the markets barely selling off. what do you say? >> they need to worry. it is interesting that the last quarter of the avant-garde is the weakest of his presidency. it shows me that the temporary euphoria of the stimulus is holding off. i think the fed is getting ready to up the dosage of the stimulus. interest rates are rising despite this it the dollar is tanking. if it was not for the japanese yen, imagine how low the dollar would be. i think it will break down a lot. look at oil prices knocking on the door at $100 a barrel. more people wi
. the currency markets, open for trading for a lot longer today than stocks. the euro is still below 133, the recent high. it's interesting to see that the risk-on currencies are a bit to the upside. >> watch gold, too. i think gold, 12th year of good performance. >> yes. >> i would emphasize gold should be part of people's portfolios. >> while i don't disagree with you, because i've been wrong on gold two years in a row, silver better performer last year than gold. >> numbers are numbers. i find that the gld is just a very, you know, good way, i hope it goes down, the rest of your portfolio goes up. but remember, in the last 12 years we've had deflation, inflation, good control, bad control, but gold is steady because gold is in short supply in the world. >> i thought we were being positive. i'm optimistic for the next year or so. ten years out, different story. oil prices, right? while they've gone up in the last couple weeks, gas prices are down. >> gasoline. >> gasoline. and nat gas remains fairly low. >> nat gas at four-month lows right now. >> let's not underestimate the extra mone
. quick check of currencies, the euro/dollar the focus of a debate this morning on "worldwide exchange." a lot of people saying not so fast if you think that the rising dollar in tandem with rising risk is going to be a theme of the year. today we're seeing the euro/dollar give up .1% to 1. 1.3069. and the dollar/yen after reports out of japan saying there will be coordination between the bank of japan and fiscal authorities to try and get to the 2% inflation target. nothing too concrete. again, the proof will be in the poudre figure i can use a -- in the pudding if i can use a popular phrase this side of the bond. back to you. >> kelly services. i like that -- talent. talent, kelly. >> talent at work. >> talent at work. thanks. >>> coming up, the nation's biggest banks preparing to post quarterly results in the coming days. the inside line next. >>> first as we head to break, a look at yesterday's winners and losers. at 1:45, the a >>> that's hard. >> you stink. the wing and a fractured beak.o surgery was successful, but he will be in a cast until it is fully healed, possibly several
of the euro and to some degree make monetary policy tighter over here. we can quickly look at the bond space. italy did go to auction as we continue to see reasonable demand for peripheral debt. the paper is selling off a little bit, but still 4.17%. investors showed up to bid on the two-year zero coupon and the five-year inflankz flagz linked bond. italy and spain continue to front load. forex, though, telling you more of this story, which is that interestingly fluff, we're seeing kind of a risk off attitu attitude. the same has been the case for loony, which now people are starting to talk about in parity with the u.s. dollar. the dollar/yen, down about 0.3% to 90.62. the euro/dollar, 1.3446. so even though it's difficult, the u.s. dollar, guys, has been performing a little better over the last couple of weeks helped by renewed growth prospects. it's one reason why a lot of people are focused on the see kweter, that chatter over the weekend about it happening could put more pressure on the greenback. back to you guys. >> kelly, thanks so much. next time, you should fly over. >> what happen
the euro zone problems, they are bubbling through, that is trouble pushing foreign banks to possibly spinoff their u.s. subsidiaries like the asset management something i have been hearing for months and months now. that's apparently it's one of the names. i'm not saying these banks are in particular in play. bankers at the wall street firms are definitely approaching these players saying you should do a deal. they are listening. when you put it all together, the macro scenario, increased regulations, euro zone problems, low trading volumes, low interest rate so you can borrow cheaply, guess what happens. you don't make enough money. when you have low interest rates you don't make a lot of money on your investment. you put all that together and you have a situation right for mergers. i don't know they will merge with ameritrade, but is there a need for two of them right now? cheryl: probably not. they traded higher at 2012 like the big guys did. so many deals going on, they were doing their banking profits, c. can have more power houses, medium-size. charlie: they were in the market
the trading day higher led by consumer discretionary and energy. the euro hitting a 11-month high versus the dollar after the ecb said banks will pay back loans faster than expected. euro rising to $1.34 in intraday trading against the greenback. >>> new home sales as we mentioned before falling last month dropping to an annual rate of 3509,000. that is last month's drop did not derail the previous gains. housing sales posted the best year since 2009, jumping 20% from a year ago, sandy. >> we have our market panel. jeff saut, chief investment strategist at raymond james. david steinberg, dls capital managing partner. let's first start with mark. the take on the rally here. it is good news, bad news. this market seems to want to continue to plow higher. >> absolutely. we have some tax clarity. we have some debt ceiling clarity. you give the market clarity, and improving economic numbers and decent earnings season hard for us not to rally higher. you know, we're closing over 1500. we closed over 1500 under monday. i think that is really bullish for the next couple of weeks at least through
at the pound side. let's look at the euro versus the pound. as you see on this chart, pound's getting hit pretty hard. this is a 13-month low on the pound. let's switch around some of these controls trades. look how fascinating this is. let's not pare that losing pound to the pound/yen. pound/yen is at 31-month highs. if we look at the euro/yen, it's at 21-month highs. if we look at the dollar/yen, it's a 31-month high. even though the pound is having a tough time against the eurozone, everybody's having a party against the yen. these cross trades have been one of the biggest surprises to many for 2013 thus far. and it hasn't taken long. the other thing, of course, durables today is one of the reasons we're up several basis points, again, along with stocks. but if you look at the proxy for capital spending, up only .2% for the month of december. that was a little disappointing and maybe one of the more important components of today's durable series. jim, back to you. >> thank you, rick. let's check out the latest news in energy. sharon? >> the fact that hess is exiting the refining busine
. >> thank you very much. what will it mean for the euro if the ecb cuts interest rates at 8:00 a.m. tomorrow morning? good morning. positioning for a cut? >> i'm positioning short. but i don't think they're going to cut this time around. there's so many reasons for the ecb to want to cut rates. i think we're looking at an actual cut three months out. german economic data has been pretty weak. i feel like that the position for euro wants to go to the downside. we saw poor german data, obviously the core of the european union. and the reason the ecb hasn't let the euro go. i think they're going to prep the markets next time for a cut. >> what are your levels? >> well, 131.20 was interesting. a level we tried to break through all fall. we finally got above it. now the market in the technicals should be support. it didn't hold the support. you want to go short the euro. >> are you a dollar bull overall? are you getting behind other trades on the basis that the greenback could go higher, higher interest rates in america? >> absolutely, simon. the dollar has this underlying bid ever since the fed
? >> pmi, the best rating in a while. the euro weakening against the u.s. dollar, watch thanksgiving yesterday, continues to trend today. there is a bid to safety in today's session. i hate to use that phrase you to put it simply, the safe havens out there as we are staring down the barrel dealing with the debt ceiling and spending cuts. >> i thought they would have a tailwind rather than a headwind on currency. not in sync with a bullish picture, got to understand that one of the great reasons we have been able to have a good run, the dollar getting weaker. and also, unless people are short today, i know people are short, nordstrom's very heavily, short target, short gap, that is the only thing really going up. the mean time, i keep pointing out these dollar stores, they are horrendous today. family dollar really terrible. >> family dollar down 12%. >> you have nordstrom going higher, family dollar going lower, people felt that maybe the dollar stores would catch a bid and nordstrom would have weakness because of the high-end consumer being worried that clearly has not been the case
look at the euro versus the dollars, wow, euro is screaming today. you look at the euro/yen, that's screaming as well. the dollar/yen is screaming as well. so the dynamic of the yen continuing to be under pressure. will this be a huge move? many think, if you talk to some of the japanese officials, they're say it's just getting back to a reality after the end was pretty much decimated about a year ago with respect to too strong relative to the other currencies. no matter how you slice it, all that meats is where we are now and where we're going in the future. >> thank you we'll find out the latest movements in energy. sharon, take it over. >> it's all about algeria. a lot of traders are paying attention to the ongoing hostage situation at the gas field where islamist militants had attacked that facility and still holding some folks hostage there. we have learned from the algerian news agency that about 45 hostages, including some americans had escaped the complex, but still bp is confirming that the situation remains unresolved. it tellses it has confirmation that five of its empl
's something that has been off on the equity markets. positive comments, relinch aunc the euro. >> i remember when euro was in the last debt gross. wrong. >> great britain, uk, still eurozone. >> a lot of commotion down here. we look at the live feed from davos, switzerland. >> they're not happy. [ bell ringing ] >> at the nasdaq, starz celebrating its spin-off from liberty media. >> there's speculation about starz. but when i talked to a number of people who run various media companies, it might have been considered as buyers of that. they're saying, not me, check with that guy, and he said, not me, check with that other guy. we'll see if there's a potential acquirer of starz. >> netflix yesterday in the conference call, hastings was saying the great cable channels need us. you can't just jump in. before "breaking bad" you need a stream. >> netflix stepped in where starz has stepped out. >> s&p gainers for the year, netflix number one. >> is that true? >> up almost 59%. number two. best buy, number three dell, if you can believe that. >> name me three stocks that have come back from the dead
're going to europe, what's the exchange rate on the euro. >> 21 minutes past the hour i'm gregg jarrett with your fox news minute. more than 50 people injured after a high speed passenger ferry hit a dock in lower manhattan this morning. the ferry reportedly struck the dock pulling into the pier opening a large gash on the side of the ship's bow. vice president joe biden currently meeting with gun safety and victims groups. the sit-down part of a series of gathering he will be holding at the white house this week in an effort to find common ground on proposals to curb gun violence. tomorrow he will meet with members of the national rifle association. washington redskins rookie quarterback robert griffin underwent surgery this morning to repair a torn ligament in his knee. doctors also expected to determine whether another of griffin's ligaments was damaged during the redskins play-off loss to the seattle seahawks sunday. those are your news headlines on the fox business network. i'm gregg jarrett. now back to connell and dagen. connell: gregg good to see you. thank you very much. dagen:
the race to the bottom in the currency markets. the euro is at an 11-month high against the dollar and the yen is scheduled to move lower if the bank of japan wants its way, and a lot of people are saying that could benefit gold in a big way which is starting to move higher again. what do you make of the currency wars going on right now? >> i think they are going to heat up and the central players where it heats up will be between germans and the japanese over exports of cars, but i agree with you, and i also think that if we look at how they are going to develop in the near term, i would think that the trigger for that will be when the dollar/yen, for example, gets above 90 and the euro/yen significant levels, and real quickly i've had a lot of e-mails about problems with our bills, but not the ones that you think. t-bills. at the end of 2011 the last time we had a debt ceiling issue we saw bill rates for four week bills and three-month bills start to move up. today we had a one-month bill auction, trading on at five basis points and the auction went off at 9.5 basis points and ma
the euro to borrow a tremendous amount of money using the german balance sheet and we're doing the same thing, abusing our world's reserve currency status, and when that ends, it's going to be very painful. >> the music hasn't stopped. the cash is still flowing so markets will go higher. >> you're right. >> all right. we've got to go at this point. i'm not sure we solved anything, but it was fun somehow. >> we did better than congress. >> that's true. >> at least we didn't curse. >> no f-bombs here at least. see you later. stocks kick off the year on a high note thanks in last part to last night's 11th-hour tax deal in congress. checking with bertha coombs for today's leaders and laggards. >> bill, a day for notable milestones. the dow starting the year up over 2% for only the tenth time in 100 years, the nasdaq's best one-day gain in over 15 months, the s&p starting the year with a sizable gain for the fifth straight year. that's never happened and the russell 2000 hitting a new all-time high. zipcar was the russell's biggest percentage gainer on a $500 million cash deal to be acquired
, the euro/dollar. the moves there off the ecb -- >> what? >> rick. >> look at the dollar index. >> can't hear anybody if everybody is talking on top of everybody else. >> talk about the currency market. that's really telling today, too, off the ecb stuff. >> off the ecb, off the monetary policy committee of the bank of england. the pound is up dramatically. the euro is up dramatically, and even though we're still all rallying against the yen, this is one of the biggest drops net day over day in the dollar index i can remember in a while. it's getting close to a whole cent drop. that's pretty big. >> let me get to gordon. we're seeing a real move up in the final hour. what are you seeing in terms of flow? where is the money moving, and who is buying? >> seeing institutional, again, across all sectors. the important thing is we're starting to see it in the financials which to me is the bellwether of this thing being a real bull move here to the upside, because behind financials you know that housing is going to be behind that, and that's going to be one of the things that we've been wait
the euro. this is a -- quite a currenty. >> you said moments ago marks go up and down. >> yes. >> dollar goes up and down and stocks go up and down. >> yes. >> and yet you say you will never stop buying gold. what's that strategy? doesn't gold up and down, too? >> i want to tell you something about gold, maria. because i'm fearful that we will have a systemic crisis and supports and so on so i'm gig gold because i feel fearful. you don't own any gold and you are in danger because you don't own any gold >> you don't know that i don't own any gold. >> guilty as charged, let me get your take. >> you don't look like the gold owner. >> yes, and you have a golden personality. >> i like that, marc. what about stocks here? where's the low-hanging fruit in terms of the stocks that will lead this decline? you don't like apple very much. where's the -- that leads the market lower. >> i think urkian stocks are very low. i think vietnam is inexpensive. i think chinese stocks are rell civil inexpensive. >> you think i should sell all my u.s. holdings and buy ukranian stocks? >> maybe? >> really. >> ye
said congress voted no. it is going to be an amazing debate. the euro turns 14 today. happy birthday, euro. has it been a success? what would it cost you, and i'm not just talking about the initial outlay, but upkeep, garden webs staff, dresses, everything that goes with it, well talk about that with robert frank as well. back to you on "power lunch." >> can't wait for that one, mandy. thank you very much. this is a booming section of the tobacco industry. none other than the electronic cigarettes. it is making cigarettes more life like and big tobacco is taking notice in a big way. jane wells is in los angeles with more. hi, jane. >> hi, sue. for those of you trying to quit smoking this year, big tobacco's not worried. it is investing in a solution to your resolution, competing with a diverse group of tech startups. >> who's got my god [ bleep ] cigarette. >> james cameron took heat for having his character played by sigourney weaver in "avatar" smoke. >> john cameron bag ceo of safecig, to build a product becoming ever closer to recreating the experience of smoking without the carc
at this -- 14 month low against the euro. the second day of declines for the dollar but takes the 1.3563 by a single euro, unbelievable. david: that's why i'm planning a trip to europe. all right. treasury yields we keep a close eye on what's happening there, the end of the day, with ten year yield jumping slightly above 2%, as you can see, it's come down a little bit after hours. but again, these are levels that have not been seen for about nine months now. the ten year yield ended the day at 1.99. but again they did tick up above the 2% level earlier. liz: we are waiting on earnings from facebook, due out any moment. we will have full coverage for you, including an analyst who has had a buy on the stock since back in july when most were fleeing the stock. and before others upgraded it. we will also bring you numbers from electronic arts and qualcomm as soon as they are released. david: electronic arts, i forgot about them, they are reporting as well. also the very latest reading on gdp showing our economy, well, it's moving in the wrong direction or at least it was in the third qu
at the grocery store. also the euro hitting an 11 month high against the dollar, a possibility of an interest rate cut in europe fades. euro hit an intraday high of $1.34, jumping 2.5% against the greenback. sandy? sandra: we're also watching dell shares. this is the big story. especially after trading we're still going to continue to watch this stock. the stock soaring today, reports surfacing that it is in talks with private equity firms over a potential buyout. david: joining us now is williams financial group director and research in equity capital markets is joining us by phone. first of all, is it going private and if so, how much >> you know, david i can't say if it's going to go private or not. we definitely get some specifics at least in some private equity being named, but whoever leaked something like this, if it is true, just cost somebody a little over 2 billion dollars today, so if it was going to go private, it could have done so much cheaper. sandra: i want to focus on the fact that the stock has taken a major hit over the past year, the past six months, it's up 28%, it has re
crabtree. the 29 euro was handcuffed and temporarily detained by police and he now is facing a misdemeanor summons to appear in a court room. there have been a conflict and reports on whether or not he was drinking. >> s. employees added 155,000 jobs in december, a state the gang that shows the hiring held the door intense fiscal cliff negotiations in washington. the labor department says the unemployment rate stayed at 7.8% last month. november's rate was revised higher from an initially reported 7.7%. even with the gangs, hiring is far from accelerating. employers added an average of 153,000 jobs a month last year, matching the monthly average in 2011. >> coming up on the kron 4 morning news, we will have more coming up on a water main breaks that will be coming up next. >> ♪ [ female announcer ] no more paper coupons. no more paper lists. [ dog barking ] ♪ no more paper anything. safeway presents just for u. ♪ save more. save easier. saving more, starts now. just for u on the safeway app. saving more, starts now. (woman) 3 days of walking to give a break cancer survivor a lifetime
stagnation in the euro area as a whole will rise if the momentum for reform is not maintained." so the core still remains at risk, correct? >> they are at risk. there are a number of policies that have to be put in place. for the most part, they have indicated what they intend to do. they just have to do it. >> tom: are you referring to government spending cuts or or the central bank continuing with the firewa and prectin. >> i was thinking about two things. the program that the b.c. b.has put in place, which has not been taken up. but if it needed to be taken up, i think it should. the other is the progress on the banking union, which is a really important thing. they have taken the first steps, jut the first steps. there is quite a way to go. >> tom: let's talk a little about the united states, because you do address the u.s., and obviously congress and the president keep putting off decisions on spending cuts for america's government budget. how does that postponement impact your forecast? >> we have asmedhat basically the fiscal confrontation for this year will be about 1.25%. it could
. good morning. >>> becky, good morning. i wanted to show what's happening across the euro stock 600. a generally quiet session. we're down .3% so far in trade this morning. that might have more to do with something happening here at the bottom of the index. the absolute dogs in the europe stock 600 this morning are the oil services. we can show you what's happening. look at the saipem shares once we get through the borses. saipem shares down in the range of 35%. this comes after they took a couple of hours to open this morning. let me show what's happening. 35% for this company. it's europe's biggest oil services provider by market cap. last night came out and warned about the profit outlook it's seeing for 2013. now itself's looking at revenues -- sorry, of earnings of 750 million euro, down from 1.7 billion that the market was expected. this is based on review of contracts based mainly in the leaf, nigeria and -- the middle east, nigeria and algeria. order backlogs, more worry about that. delay of major contract. bottom line, this company comes out in barclay's, for example, calli
to a referendum. voters should decide whether the uk should stay in the 27 member euro zone. the first priority is renegotiating the eu treaty. timothy geithner at last they will be friday. president obama has elected jack lew. much of the u.s. experiencing the coldest temperatures in two years. for death are blamed on the cold snap. the bitter conditions are expected to stay into the weekend. dagen, back to you. dagen: jamie dimon apologizing. also, stepping up and saying back off. there is more regulation needed. he said all of this at the world economic forum. we are president and chief investment officer. he is in rochester, new york. maybe the only place on the planet that is colder than where you are sitting right now. >> happy to be here. dagen: what do you say to jamie dimon? there was one hedge fund manager that went after him. he said back off. >> well, jamie is right about the capitalization. he has incredibly strong capital. a lot of the standards forced the banks to have more capital, have more liquidity. it really is about rules. some of the most simple rules are the most importan
exclusive next. ashley: first, look at how the dollar is moves now against foreign currencies. the euro up against the dollar. the pound up against the dollar. euro 1.31 testing recent highs, and meanwhile, up against the green back unless you have the mexican peso, we'll be right back. lauren: i'm lauren green with your fox news minute. stranded after the coast is now under tow. successfully pulled from the island where it ran aground in a vicious storm a week ago. the rig is being toed at four miles per hour approaching the alaska coast where crews can determine if there's damage. shell says no evidence that the vessels' 150,000 gallons of fuel leaked into the ocean. the set dates to hear arguments in two gay marriage cases. california's proposition 8 on same-sex marriage will be heard march 26 #th, and the defense of marriage act is heard the following day on march 27th. new violence in syria after president assad's declaration that he will not step down in a public address, he announced only he dictates the end of the civil war, a 21-month conflict costing more than 60,000 lives so far
now. deposits flood into their economy. it is very well-capitalized. euro is let cheaper than it would be without all these problems. they have companies north of the border bern fitting from this situation. lori: at no time, s&p at end of the-year high single digit submits. >> we think high single digits. 1500 is a good target. could be volatile to a path getting there. lori: steve, thanks. come back soon. melissa: the house overwhelmingly approved $9.7 billion in aid to pay for flood insurance claims from owners and businesses from your canned sandy. it was two months since the storm was hit. after it was originally delayed by house speaker john boehner my tri-state decision and it was moved to this morning. the bill placed won by 354-67 is expected to pass the senate with no problems. it will give more authority for the national flood insurance program to pay out over 100,000 claims. an additional vote is expected on january 15th whether to provide additional aid to cities and towns affected by the storm and some beyond those affected people would argue but we'll see. >>> uncertaint
yet. >> all right, rebecca, i have two for you. number one is that i'm reading that the euro crisis this year is going to go on the back burner even though nothing's been settled. it just seems like people aren't as concerned about it. so, i guess that explains the euro's move. and then, this news out of japan that kelly's all -- talks about all the time. >> she's teed up on. >> she's very teed up on that. and reading some of the stuff that abe is getting accomplished, it is different. i mean they're going to do -- they're going to -- >> they're going to out-fed the fed. >> exactly. and you know, they haven't had -- do you remember the last time they've had 2% inflation? >> twice in the last two decades. briefly. one on the back of a tax increase. >> just really brief. >> they've flirted with 2% and that's come back -- >> you think they can orchestrate that? >> i'm dubious for now. but if you have a better u.s., a quiet europe, a better china, there's more hope relatively speaking that you could get enough global momentum, because japan at the end of the day, still is a very open ec
a collapsing euro or a slowing in china. or even skyrocketing oil prices. let's get down to business. here is the first one. i don't want you digging in your heels any more when you're wrong. in the immortal world john maynard cane, when the facts change, i change my mind. one of the easiest mistakes to make, and i know this because i've done it countless times, i refuse to change my stripes after the fact are in and i've been proven wrong. it's a quick and easy way to lose money. yet mad mailers and particularly twitter followers @jimcramer refuse to believe this principal. i have been blasted into reality over and over and over again. whenever i dug in my heels. you are always angry when you get run over. and you're always willing to take it out on the people who are on the other side. the ones who got it right. the fact that i am open about this whole process and that i actually read the e-mails, and i engage with people sometimes in a cranky way has helped me to invest stories and invest better. but it has also been an exercise in pain. >> the house of pain. >> and when the e-mails are
against the euro, which is at 11-3358. and gold prices are down, $1,678.20 an ounce. >>> michael corbett says the bank has the right status to generate future growth. speaking at the world economic forum in davos, he tells cnbc that several years worth of revamping efforts are beginning to pay off. >> over the last year, we've simplified the company a lot the. we've become smaller, we've become simpler. >> corbat took over in october after the resignation of chief vickram pandit. >> very sharp in the stripes. >> yeah. >> the gegco, do we have a shot at him? >> no. >> that looks pretty good. there's product in there. what do you think, it's water? there is product. and, you know -- >> davos, they tend to walk out with wet hair and it turns to ice. >> but people don't look that good in davos, normally. >> that's true. >> he looks like a banker there. i think he has a lot of potential as far as his looks go. in the world economic forum in davos is in full swing. let's get to andrew buzzing in the mountains of switzerland. you're a big apple-phile, too. >> you're hoping people look good in d
their currency. look at this chart, they seem to have been somewhat successful. this is the euro versus the swiss. there's been a major appreciation of the euro. it's basically at 20-month highs. what's fascinateding is, now look at the next chart. we don't have negative yields in a swiss two-year anymore. see how the charts correlate? basically that's a barometer. funding issues have receded, swiss are getting back to normalcy. now it's all about growth and employment. and all of that information comes out at the end of the week. david faber, back to you. >> all right. thank you very much, mr. santelli. well, yesterday's shares of hess up rather sharply in part because of the company's announcement of a number of different things it's doing refining its assets. interestingly it didn't react as much as one might have anticipated given today's move from what we learned is likely to be a move by elliott associates on the company from an activist perspective. this morning we got that move. and boy, did we ever get it. the stock itself moving up sharply. let me quickly give you some of the particular
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